What is bidder in SAP SRD-SRM-SC - SRM-Sourcing and Contracting?

SAP Term: bidder

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: A person or company that issues a quote for the supply of products, usually in competition with other suppliers. A bidder is also a role assigned to a person or company that may be invited to participate in RFQ processes. A supplier is automatically also a bidder but not vice versa. You can create a bidder in the system and use it for RFQ processes without maintaining purchasing or financial master data for the bidder. You cannot use a bidder within a purchase order process.

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• Key Concepts: 
  A bidder is a person or organization that submits a bid in response to a request for quotation (RFQ) or request for proposal (RFP). The bidder is usually a supplier, vendor, or contractor who is interested in providing goods or services to the buyer. The bidder's bid is evaluated by the buyer and, if accepted, the bidder is awarded the contract. 
  
  How to use it: 
  In SAP SRM-Sourcing and Contracting, bidders can be invited to submit bids for RFQs and RFPs. The buyer can then evaluate the bids and select the most suitable bidder. Once the bidder is selected, a contract can be created and signed between the buyer and the bidder. 
  
  Tips & Tricks: 
  When inviting bidders to submit bids, it is important to provide clear instructions on how to submit their bids. This will ensure that all bidders have an equal chance of being selected. Additionally, it is important to provide sufficient time for bidders to submit their bids so that they have enough time to prepare their proposals. 
  
  Related Information: 
  In SAP SRM-Sourcing and Contracting, bidders can be managed using the Bidder Management functionality. This allows buyers to create and manage lists of bidders, invite them to submit bids, and track their responses. Additionally, buyers can use this functionality to evaluate bids and select the most suitable bidder.